Month: September 2023

Grayscale Takes New Approach As It Files For Another Ethereum Futures ETF

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On the back of its partial victory against the US Securities and Exchange Commission (SEC), Grayscale has applied to the Commission for another Ethereum Futures Exchange-Traded Fund (ETF). Why Another ETH Futures ETF? According to a report by the Wall Street Journal (WSJ), Grayscale Investments filed this application on September 20. This development may come as a surprise to many, considering that the asset manager had filed an earlier application to offer this same investment vehicle. As such, this will represent its third application (Grayscale withdrew its first application due…

One Year After ‘The Merge’, Developers Tackle Validator Sprawl with EIP-7514

CROWD CONTROL: Ethereum has been so successful in attracting new validators for its proof-of-stake blockchain that the network is now starting to suffer from sprawl. There are nearly 800,000 active validators on the network, up about 41% since April’s “Shapella” upgrade, when withdrawals of staked ETH were first allowed, according to a Sept. 14 report by Galaxy Research’s Christine Kim. Based on certain assumptions, the number is on track to hit 1 million by mid-November and 2 million by June 2024. “Ethereum is getting close to reaching an unsustainable number…

TON Continues To Shine With Impressive Gains, Is $3 Possible?

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TON has gained 1% today, September 20. It trades at $2.47 with a 30% seven-day price increase. Also, TON’s price gains confirm the entrance of buyers and an accumulation phase, which will likely continue to push the rally. TON’s price gains in the past week are likely a result of its integration with Telegram. This integration exposes TON to approximately 800 million users on Telegram, leading to a spike in its price.  TON Faces Resistance At $2.58; Will The Buyers Trigger A Breakout? TON is on an uptrend today, building…

Signal hints at leaving UK market following passage of online safety bill

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A bill aimed at regulating certain internet services in the United Kingdom, including activities in the metaverse, has passed through Parliament and awaits King Charles’ approval to become law.  In a Sept. 19 announcement, the U.K. government said the Online Safety Bill had passed through a final debate in Parliament and will become law in the country “soon.” Lawmakers had previously debated whether the legislation aimed at protecting users online — particularly focusing on children — could extend to virtual environments like the metaverse. According to the government, the final…

How a Spot Bitcoin ETF Could Revolutionize Markets Like Gold ETFs Did

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Like gold ETFs, a bitcoin ETF would make it significantly easier for a broader range of investors to gain exposure to bitcoin. It eliminates the need for investors to directly buy and store bitcoin. While this difficulty did not discourage early adopters, it can be a complex and daunting process for many (i.e., imagine walking a grandparent through the cold storage process). Fun fact: Before the first gold ETF was launched, investors could invest in clunkier closed-end funds, gold companies like miners or lug around the actual shiny metal. With…

Sam Bankman-Fried’s Empire Was Crushed by This Infamous Balance Sheet. Here’s More of the Story

The infamous balance sheet of Sam Bankman-Fried’s trading firm, Alameda Research, served as the basis for a Nov. 2, 2022, story by CoinDesk’s Ian Allison. The article raised questions about how sturdy the company’s financial underpinnings were – and, by extension, how safe Bankman-Fried’s better-known crypto exchange FTX was. For the protection of our sources we are not publishing the document itself but rather describing its contents – in finer detail than ever before. Source

Discord crypto trading bot shuts down after ‘critical exploit’

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None Trading, a trading tool for cryptocurrencies and nonfungible tokens built on Discord, has shut down due to a “critical exploit” within its infrastructure. According to the September 20 announcement, None Trading developers said that it has “lost a significant amount of funding” as well as “team tokens” crucial for its operations. “Alongside this, we have lost 3 core team members that are required to keep the project running healthily. This unfortunate incident has put us in a financial and infrastructural position that makes it simply impossible to continue running…